Chevron Leads Oil Stocks Amidst Ongoing Iran War Uncertainty
Three major oil stocks, ExxonMobil (XOM), Chevron (CVX), and Occidental Petroleum (OXY), have seen significant gains in the first half of 2026 due to the impact of the Iran war on oil supply.
Occidental is the most exposed to oil price volatility due to its upstream focus. However, despite its impressive performance and low valuation, it ranks third among these three stocks for the second half of 2026.
The main concern with Occidental is that it's riskier than ExxonMobil or Chevron because of its heavy upstream focus. If oil prices fall, Occidental's stock would be affected the most of the three.
ExxonMobil was chosen as the second-best pick for the second half of 2026 due to its diversified business and strong financials. However, Chevron takes the top spot due to its attractive dividend yield, recent acquisition of Hess, and significant exposure to Guyana's high-return area.